Russian stocks to sag on low oil prices, foreign mkts’ fall

MOSCOW, Sep 21 (PRIME) -- The Russian stock market will decrease at the opening of the Monday’s trading session, as investors will react to low oil prices and a decrease at foreign bourses, analysts said.

“The influence of the key factors which significantly affect the behavior of the Russian financial market is moderately negative today in the start of the day,” Oleg Shagov, head of the analytical department at investment company Solid, said.

Brent was falling on September 18. By Monday morning, it had started rebounding but still was below U.S. $48 per barrel.

U.S. stock market futures are declining in the morning, so do the majority of Asian indices, except for the Chinese ones. All these factors will not let the Russian market increase on Monday at the start of the session, Shagov said.

Russian stocks usually decrease after U.S. Federal Reserve System meetings because when the unpredictability fades away, traders want to close longs, Anton Soroko, analyst at Finam, said.

Later on Monday, Russian investors will pay attention to the oil futures’ dynamics, Vitaly Manzhos, senior analyst at Bank Obrazovanie, said.

U.S. housing sales figures release can influence investors’ moods to a certain extent, Anton Startsev, senior analyst at investment company Olma, said.

End